Spain's Popular raises capital, buys stake in Mexico's BX+
MADRID Dec 11 (Reuters) - Banco Popular said on Wednesday it would carry out a capital increase of up to 450 million euros and use the cash obtained to buy a stake in Mexican financial group BX+ and boost its core capital ratio.
The bank said the capital hike, worth about 6 percent of its shares, would be subscribed by shareholders in BX+ and other Mexican business people while it will buy a 24.9 percent stake in BX+ for about 97 million euros ($134 million).
Trading in Popular shares was suspended at around 1340 GMT. It will resume at 1430 GMT, Spain's stock market regulator said in a separate statement.
- Israel says shoots down Gaza drone as calls for truce mount |
- Ukraine forces end rebel airport blockade
- German database study hints diabetes drug cuts Alzheimer's risk
- Six people injured when camera catches fire at 30 Rockefeller Plaza
- Exclusive: YouTube weighs funding efforts to boost premium content - sources